BCE Inc. (BCE.TO), Canada's largest telecommunications company, reported a 32.5 per cent rise in quarterly profit as it added customers and earned more per subscriber in its postpaid wireless business.

The company said net income attributable to its shareholders rose to $657 million, or 75 cents per share, in the fourth quarter, from $496 million, or 58 cents per share, a year earlier. On an adjusted basis, BCE earned 76 cents per share. The average analyst estimate was 78 cents.

Operating revenue rose 1.8 per cent to $5.70 billion in the fourth quarter, which BCE attributed to wireless, residential and media growth. BNN is a division of BCE's Bell Media unit. 

The company's wireless division saw quarterly revenue rise 6.4 per cent year over year to $1.88 billion amid a 23.1 per cent surge in net postpaid subscribers. Blended average revenue per user rose 4.7 per cent to $66.69.

BCE also announced it's raising its annual dividend 5.1 per cent, or 14 cents, to $2.87 per share, effective April 15.

"Going into 2017, BCE's operations and financial foundation are strong," said BCE CFO Glen LeBlanc in a statement. "Our healthy balance sheet is underpinned by investment-grade credit metrics and good liquidity, together with a defined benefit pension plan that is very well funded and attractively positioned to benefit from a rising interest rate environment."

Looking ahead, BCE is forecasting 2017 revenue will rise as much as two per cent, with full-year adjusted EPS ranging between $3.42 and $3.52, versus $3.46 in 2016. 

The average analyst estimate for 2017 is $3.62, according to Thomson Reuters I/B/E/S.

LeBlanc noted on a conference call that the 2017 forecasts do not account for BCE’s pending takeover of Manitoba Telecom Services, which is expected to close by the end of the first quarter.

--With files from Reuters